Amid expectations that a post-election rally could lift the property market, analysts warned that sound economic fundamentals are essential to clearing uncertainties and attracting buyers at home and abroad in the coming year.
"If direct links [between Taiwan and China] are soon implemented, Taiwan could become a call center for multinationals that target the Chinese markets," Andrew Huang (黃丙喜), the director-general of FIABCI-Taiwan Real Estate Excellence Award, told a seminar yesterday. "Domestic and foreign buyers may then compete to buy local properties."
The local property market has turned upbeat after Saturday's presidential election, banking on a relaxation in cross-strait exchanges to aid a market recovery.
Chung Yin-tang (鍾尹堂), chairman of the market information committee at the Taichung Real Estate Development Association, said yesterday that some home buyers in central Taiwan had come back to close deals, fearing that home prices could soon skyrocket.
But more level-headed buyers continue to adopt a wait-and-see attitude until the local economy shows clear signs of a sustained boom.
Chung, who is also president of Taichung-based Hsin Yeh Development Co (
However, property prices will only rise significantly late this year if the Ma administration makes some progress in cross-strait trade, Chung said.
Other market watchers at the seminar are not as optimistic.
Chuang Meng-han (
Given the nation's high home ownership rate of 87.83 percent and the rising supply of pre-sale properties, the local market is likely to suffer from an oversupply, he said.
Rising interest rates and lower mortgages further spell bad news for potential home buyers, he said.
"Our survey showed that 76 percent of respondents believe now is not a good time to invest in properties," Chuang said, adding that "the local market will soon shift from a seller's market into a buyer's market."
However, properties in good locations will see little impact from the market's slowdown, he said.
Kee Tai Real Estate (基泰建設) chairman Edward Chen (陳世銘) agreed, saying the market offers both challenges and opportunities.
Presenting the company's report, Chen said that the nation is facing its biggest inflationary pressure in 30 years, which could cut people's purchasing power by 20 percent in the next two years amid rising property prices.
Interest rates, tighter bank credit and a property oversupply could threaten the local market's recovery.
Chen said that commercial properties and projects that offer more value, such as luxury homes, are better investment bets.
If direct links between Taiwan and China are implemented, Edward Huang (
Intel Corp chief executive officer Lip-Bu Tan (陳立武) is expected to meet with Taiwanese suppliers next month in conjunction with the opening of the Computex Taipei trade show, supply chain sources said on Monday. The visit, the first for Tan to Taiwan since assuming his new post last month, would be aimed at enhancing Intel’s ties with suppliers in Taiwan as he attempts to help turn around the struggling US chipmaker, the sources said. Tan is to hold a banquet to celebrate Intel’s 40-year presence in Taiwan before Computex opens on May 20 and invite dozens of Taiwanese suppliers to exchange views
Application-specific integrated circuit designer Faraday Technology Corp (智原) yesterday said that although revenue this quarter would decline 30 percent from last quarter, it retained its full-year forecast of revenue growth of 100 percent. The company attributed the quarterly drop to a slowdown in customers’ production of chips using Faraday’s advanced packaging technology. The company is still confident about its revenue growth this year, given its strong “design-win” — or the projects it won to help customers design their chips, Faraday president Steve Wang (王國雍) told an online earnings conference. “The design-win this year is better than we expected. We believe we will win
Chizuko Kimura has become the first female sushi chef in the world to win a Michelin star, fulfilling a promise she made to her dying husband to continue his legacy. The 54-year-old Japanese chef regained the Michelin star her late husband, Shunei Kimura, won three years ago for their Sushi Shunei restaurant in Paris. For Shunei Kimura, the star was a dream come true. However, the joy was short-lived. He died from cancer just three months later in June 2022. He was 65. The following year, the restaurant in the heart of Montmartre lost its star rating. Chizuko Kimura insisted that the new star is still down
While China’s leaders use their economic and political might to fight US President Donald Trump’s trade war “to the end,” its army of social media soldiers are embarking on a more humorous campaign online. Trump’s tariff blitz has seen Washington and Beijing impose eye-watering duties on imports from the other, fanning a standoff between the economic superpowers that has sparked global recession fears and sent markets into a tailspin. Trump says his policy is a response to years of being “ripped off” by other countries and aims to bring manufacturing to the US, forcing companies to employ US workers. However, China’s online warriors
RSS